The new revised JV term sheet looks positive for Triton IMO, where:
1. they managed to reduce that time period of earning 80% from 4 to 2 years:
Earning now thru different phases: stage1 (49%) --> stage2 (51%) --> stage3 (80%)
They have removed the first earn-in phase, which was 25%, and replaced by a 49% interest in project.
2. Over this period, total investment by Triton has been reduced from $1.5m to $1m in expenditure commitments and cash payments to Grafex.
3. Aggressive exploration and commitment with DFS in stage2.
4. Increase TON landholding to 5km of Area of Interest to the surrounding.
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new joint venture terms announcement, page-14
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